Rosengren calls on FOMC to update forward guidance
Eric Rosengren, president of the Federal Reserve Bank of Boston, called yesterday on the Federal Open Market Committee (FOMC) to explicitly commit to keeping interest rates at current levels until the US economy is "within one year of reaching full employment and our 2% inflation target".
In a speech at Husson University in Bangor, Maine, Rosengren – who does not have a seat on the FOMC this year – said he fears the reported unemployment rate "understates the severity of the problem" in the US
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
More on Monetary Policy
Denmark adjusts rates after ECB increase
Central bank warns inflationary pressures will remain high and calls for fiscal caution
ECB continues tightening despite financial risks
Lagarde says there are no trade-offs between financial stability and inflation
Vietnam cuts rates after PM demands real estate action
SBV cuts rates as property developers face growing debt problems
Financial stability risks add uncertainty to ECB policy path
Central bank broadly expected to deliver another 50bp rate hike, taking rates to 3%
US banking collapses muddy monetary policy outlook
Bank failures raise question of whether Fed can maintain stability while tightening policy
BoJ maintains monetary easing at Kuroda’s final policy meeting
Ueda confirmed as next governor as pressure grows to abandon yield curve control
US housing prices are moderating, says Fed chair
But other indicators show need for tighter policy, says Jerome Powell
BoE’s Dhingra cautions against ‘overtightening’
MPC member says there is little evidence cost pressures are being embedded in wages and margins